Combine 1/2 cup banana, flour, and next 4 ingredients in container of an electric blender; cover and process until smooth, scraping sides of container.
Pour batter into a bowl; cover and chill 15 minutes.
Beat cream cheese, brown sugar, and vanilla at medium speed of an electric mixer until light and fluffy; set aside.
Spoon about 1/4 cup batter onto a hot nonstick griddle or nonstick skillet coated with cooking spray.
Turn pancake when top is covered with bubbles and edges look cooked.
Repeat with remaining batter to make 8 pancakes.
Place 1 pancake on each of two serving plates.
Spread 1 tablespoon cheese mixture over each pancake; arrange 2 tablespoons sliced banana over each serving.
Repeat procedure with remaining pancakes, cheese mixture, and banana, ending with banana.